Visionary Horizons LLC Sells 2,479 Shares of Apple Inc. (NASDAQ:AAPL)

Visionary Horizons LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 43.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,274 shares of the iPhone maker's stock after selling 2,479 shares during the quarter. Visionary Horizons LLC's holdings in Apple were worth $727,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AAPL. Trinity Financial Advisors LLC grew its stake in shares of Apple by 67.4% during the 1st quarter. Trinity Financial Advisors LLC now owns 47,657 shares of the iPhone maker's stock valued at $10,586,000 after purchasing an additional 19,180 shares during the period. Mainsail Financial Group LLC grew its stake in shares of Apple by 9.2% during the 1st quarter. Mainsail Financial Group LLC now owns 5,727 shares of the iPhone maker's stock valued at $1,272,000 after purchasing an additional 482 shares during the period. Donaldson Capital Management LLC grew its stake in shares of Apple by 1.0% during the 1st quarter. Donaldson Capital Management LLC now owns 562,224 shares of the iPhone maker's stock valued at $124,887,000 after purchasing an additional 5,352 shares during the period. Bannerman Wealth Management Group LLC bought a new stake in shares of Apple during the 1st quarter valued at about $299,000. Finally, Charis Legacy Partners LLC grew its stake in shares of Apple by 20.1% during the 1st quarter. Charis Legacy Partners LLC now owns 4,920 shares of the iPhone maker's stock valued at $1,093,000 after purchasing an additional 825 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James Financial cut their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Barclays set a $173.00 price objective on Apple and gave the company an "underweight" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price objective on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.91.

Apple Price Performance

Shares of AAPL traded down $0.14 during mid-day trading on Thursday, hitting $210.02. 47,994,715 shares of the stock were exchanged, compared to its average volume of 53,198,006. The company has a market cap of $3.14 trillion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a 50-day moving average of $204.32 and a two-hundred day moving average of $216.12. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.